GCC to suffer 10% drop in population under expat exodus

Population in some of the six-nation Gulf Cooperation Council (GCC) countries may decrease by as much as 10% as the impact of the covid-19 pandemic forces their mostly foreign workers to leave the oil-rich nations. "The dependence of the GCC on expat workers and large swathes of job losses as the lockdown bites into key sectors may result in significant falls in population, which could have longer-lasting implications," Bloomberg said, quoting Oxford Economics, a leader in global forecasting and quantitative analysis. The Oxford Economics report also said the GCC is in recession as lo...